Two New Studies Show an Interesting Picture of Working in Montana
While the way people work has changed drastically since 2020, Montana in particular is standing out for two reasons.
We've already learned that Montana is not necessarily the hardest-working state (even if we disagree). And it's becoming apparent, thanks to data from the National Restaurant Association, that many (89%) of restaurant operators are having trouble with labor costs, as is likely the situation with employers in many industries.
But Montana is clearly still at work, as one new study shows.
Unemployment in Montana
According to data from the Bureau of Labor Statistics, Montana's unemployment rate was at 2.5% in August 2023, which is one of the lowest rates in the country. This may be a trend, too.
In a recent study from Wallet Hub of "Happiest States in America," while Montana didn't rank high for happiness, it did rank third in "long-term unemployment rate" meaning that in general, Montanans aren't without work for very long. Overall, Montana ranked second for "work environment" which included things like:
- hours worked
- commute time
- annual income
- financial anxiety
- unemployment rate
- unemployment 15 weeks or longer
- job security
- work-related stress (as measured by tweets)
- income growth
- economic security
Taking that information into account, the other recent study is also interesting.
Is the Great Resignation Still Happening?
Wallet Hub has released its list of "States with Highest Job Resignation Rates" and Montana ranks very high--like in the top 10.
When looking at resignation rates in the latest month and the last 12 months, Montana is ranked 6th overall. When only looking at the last 12 months, Montana is ranked 2nd overall.
Can We Draw Any Conclusions?
There may be other factors contributing to these findings, but if Montanans aren't staying unemployed long, and the resignation rates are high, perhaps Montanans are quitting jobs and finding other ones relatively quickly.
So, we may not work harder, but maybe we work smarter.